Company: Mojo Mortgages
Founder(s): Richard Hayes
Description: A free online mortgage broker.
About Mojo Mortgages
Mojo Mortgages is a digital mortgage broker, utilising technology to revolutionise the way that people find and apply for mortgages online. The company was born out of a growing frustration with the traditional brokerage model, typically a complicated and lengthy process.
The online platform aims to quicken the process, providing a mortgage recommendation within 15 minutes. Further, its algorithm-powered mortgage recommendations give customers more certainty around eligibility, ensuring that they get the best and most transparent deal possible.
Customers can find out how much they could borrow from more than 100 lenders in under a minute, and get a personal mortgage recommendation in 15 minutes. Through Mojo Mortgages, customers have greater access to more than 20,000 products – that’s 10 times more than a consumer could get access to on the high street, says Hayes.
By early 2020, Mojo Mortgages had raised £800,000 in seed round funding and £7m in Series A funding to develop and expand its platform. More recently, they partnered with Mortgage Engine last November in order to create a digitised end-to-end mortgage process, with the new API platform enabling brokerages to streamline their connection with lenders.